Perfect competition: Economic profit

Page Navigation

Main Profile

At A Glance

Perfect competition: Economic profit

Economic profit is equal to the total revenue that exceeds the total cost. Economic profit is the extra profit that the owner receives above the minimum payment required (the normal profit) by the owner of the firm to stay in the particular business. Economic profit is sometimes called excess profit, abnormal profit, super-normal profit or pure profit.

Length:
01:02

Contact

Questions about Perfect competition: Economic profit

Want more info about Perfect competition: Economic profit?
Get free advice from education experts and Noodle community members.